Considerable effort has been directed in recent years to obtain substances which are useful in the treatment of hyperlipidemia, a condition associated with elevated cholesterol, phospholipid and/or triglyceride blood levels. This condition is associated with a number of diseases, one of the most serious being atherosclerosis. Medicaments used to lower cholesterol, phospholipid and triglyceride blood levels are termed hypolipidemic drugs. Presently three major lipid-lowering agents are available; clofibrate, D-thyroxine, and nicotinic acid. [R. I. Levy and D. S. Fredrickson, Post-graduate Medicine, Vol. 47, pps. 130-136 (1970).] Reduction of serum sterol is highly desirable clinically since essentially all major studies reported in the literature indicated that elevated serum sterol concentration is directly related to the development of atherosclerosis. Of the clinical types of hyperlipoproteinemias described to date, the major lipids found in abnormal levels are sterol and triglycerides. The compounds of this invention are capable of decreasing both of these blood lipid fractions as well as phospholipids, the third major lipid moiety in blood.